S.Africa not planning rand intervention-Gordhan

CAPE TOWN, May 4  – South Africa’s government is not planning to intervene to weaken the rand currency that has helped to cushion the impact of higher oil and food prices, Finance Minister Pravin Gordhan said on Wednesday.   

S.Africa: Strong rand twists ARM

Diversified miner African Rainbow Minerals yesterday reported an 80% fall in first-half headline earnings, hit by lower commodity prices and a strong rand against the US dollar. ARM, which has interests in nickel, coal, iron ore, platinum, chrome and manganese, said headline earnings per share for the six months to end-December fell to 214 cents […]